|Under Oregon law, the accusations of elder abuse against Nationstar are subject to investigation by the Oregon Attorney General Ellen Rosenblum.|
According to court documents filed October 20, 2013, Nationstar Mortgage is accused of scamming a vulnerable elderly Oregonian through unfair collection tactics.
|Mortgage servicing is a billion dollar industry. On October 24, 2013, Citigroup, Inc. announced it was selling $63 billion worth of mortgage servicing rights. Shares of the largest mortgage servicers, including Ocwen and Nationstar, rose 2-3% on the news. Source: Businessweek.|
Earlier this month, Portland resident Michael McEldery filed a complaint in federal court accusing Nationstar of fraud and wrongful foreclosure.
|Consumer protection advocates hope Oregon's new foreclosure mediation law will curb mortgage fraud abuses. For more information on the new mediation requirements, read this article by the Oregonian's Elliot Njus.|
McEldery alleges Nationstar intentionally collected mortgage payments under false pretenses and later filed a wrongful foreclosure lawsuit against his family, including his deceased mother-in-law, Louise Moore.
Click to Read - 7-18-13 UPDATE - Portland Family Says Nationstar Mortgage Scammed Them
Click to Read - 7-16-13 - Portland Family Says Nationstar Mortgage Scammed Them
Nationstar's foreclosure lawsuit garnered immediate criticism from the media and members of Portland's Irvington District community.
Click to Read - The Skanner: 'Lost' Check Cashed: Oregon Mortgage Fraud Lawsuit Exposes White Collar Abuses
|Click to Read - 7-25-13 UPDATE - Nationstar Mortgage Ordered to Appear on Contempt Charges|
Click to Read - 8-27-13 UPDATE: Portland Residents Fill Courtroom at Nationstar Contempt Hearing
At the contempt hearing, Nationstar announced that it would honor its original promise to modify McEldery’s mortgage.
|Click to Read - 8-17-13 UPDATE - Community Alert About Nationstar Mortgage Fraud|
On August 28, 2013, Nationstar finally dismissed the state court foreclosure lawsuit it previously filed against the McEldery Family.
McEldery's federal court complaint seeks an injunction against Nationstar and requests that it pay unspecified compensation, punitive damages, and expenses.
The Texas-based mortgage company has yet to file a response.